IB insufficient for more serious option trading

Discussion in 'Options' started by TITANIMUM, Oct 3, 2011.

  1. hajimow

    hajimow

    +1
     
    #11     Oct 4, 2011
  2. spindr0

    spindr0

     
    #12     Oct 4, 2011
  3. ddouglas

    ddouglas

    That have nearly-broken English . .
     
    #13     Oct 4, 2011
  4. spindr0

    spindr0

    LOL. Ask any former Yahoo BB participant about that one :)
     
    #14     Oct 5, 2011
  5. “I'd say that several traders isn't exactly a lot of requests. And I doubt that the OCA function is critical to most option traders. And if what you say is true that the majority of IB's profits are generated by stock traders, what do you expect, a call from their head software developer asking for your option improvement suggestions? Obviously, every proprietor has the right to improve its product as it sees fit. The user has the choice to use it or shuffle along.”

    spindr0 just out of interest, how do u trade options, eg do u do credit / debit spreads (combos) or single legs? Because I cant see how a money management feature like OCA wouldn't be useful, unless you can be in front of your computer every second.
    Perhaps u could contribute by voting, just go to http://www.interactivebrokers.com/en/general/poll/index.php , login, click on TWS option trader on LHS and search for 'OCA' if not already registered, login to your account management, under user mgmt - voting suscription

    “Do you really think that there are a lot of option traders who want to view option chains on two different underlyings simultaneously? I'm just guessing but I think not. Do you really think that will ever be a priority upgrade?? Ditto, I think not.

    If you wanted to do this, you could have their Simulator open at the same time. Or with a bit of work, set up a DDE connected Excel spreadsheet and have it all on one screen.”

    having two or more option chains open simultaneously is definitely important for those looking at diversifying by opening option positions in more than one underlying. You could have the simulator or demo account open as well, but that's a very inefficient compromise , not only on computer resources but on trading efficiency. Would have to go back to your real funded account, select the tab, and enter order, at the very least. “

    Your initial complaint was that it takes you ~+10 minutes to open after log in details entered. I told you that it takes me less than 30 seconds and I surely don't have a super computer. Dya think that there's a problem on your end somewhere??

    And now your rebuttal is how much more RAM IB uses than TOS? Do you really think that anyone cares if IB uses more RAM than TOS? If you prefer IB's features and they require more RAM, get more RAM. If you prefer TOS or other that uses less RAM, dust off the old 286”

    currently takes about 3mins for IB to open. which is still too long

    Spinr0 how you perceive comments in such a disparaging manner. I simply made the comment that IB's software with no bells and whistles, uses ~dbl amount of RAM compared to TOS with multiple features open, eg CNBC live, multiple USABLE charts (IB's are bettered by humble bigcharts ), multiple option chains open, voluminous features useful to option traders there to be employed, not just option gamblers who need not much other than perhaps a single option chain with no need to manage their option trade other than to give away commissions deceiving themselves it is good value, because they are usually fractionally cheaper than other brokers.

    “Have no input on index options. Don't do them. I've done some spreads and individual options this week and I was perplexed as to why the commission per leg was less than the standard 70 cts for contracts whose premium is greater than 10 cts. Obviously not going to call them up and ask why they're under charging me

    No broker has everything. Yes, some of IB's features are lacking. They have most of what I need, which isn't much. Doesn't sound like they have what you need. Last thing to say is that it sounds like you have an axe to grind with IB.”

    commission can be below 70cents, but usually in the 0.7225 to 1.75 range per leg. This is for stock options.
    I definitely don't have an axe to grind with IB, they are one of my main brokers, along with TOS. I want to take full responsibility for my PnL, but it is made much more difficult with IBs lack of OCA for combos; I have to leave it to chance many of the times when I can't be infront of my TWS. I want IB to advance, to be the no1 broker, which they can be.
    Maybe u don't need much, but option traders or any traders can only benefit from basic money management features. OCA for combos is essential for those who want to money manage their option combo trades rather than just leaving it to the “gods” to manage it for them.
     
    #15     Oct 6, 2011
  6. just a correction, core java is designed to be backward compatible since the first version - build once run anywhere motto, and works well in that regards.

    the issue you see is valid but it's really due to the java swing components used to create the gui not the language itself. It's a shitty implementation to create screens that should died many years ago(ask any developer that had to deal with screen resizing in swing). Unfortunately apps like ib's tws has becoming such a monster over the years, the money and risk involved to rewrite the whole thing is near impossible.

    Definitely dont upgrade to jre 1.7 yet..
     
    #16     Oct 7, 2011